Navi Mumbai: Much-Awaited India's Only Gems and Jewellery Park Granted Mega Project Status

The Gems and Jewellery Promotion Council is planning to construct the India Gems and Jewellery Park on a 21-acre site in Mahape, Navi Mumbai. This park is expected to accommodate around 1,354 industrial and commercial companies, creating job opportunities for approximately 1 lakh people in both direct and indirect employment.

With an anticipated investment of INR 20,000 crore, the project aims to revitalise the gem and jewellery industries.

The India Gems and Jewellery Park will be a significant addition to Navi Mumbai's landscape. It is noteworthy for its ability to accommodate lab-grown diamonds. The park is expected to attract substantial investment. It will further fuel the growth of the sector and contribute to India's standing as a major player in the global gems and jewellery market.

In addition to the Gems and Jewellery Park, Maharashtra is witnessing a surge in investments in the electric vehicle (EV) sector. Three companies have received approval to establish four production facilities for EVs and batteries in Pune and Aurangabad. Gogoro, a Taiwan-based company, plans to construct two plants in Pune and Aurangabad with an investment of INR 12,482 crore. Pinnacle Mobility and Ather Energy will also be setting up production units in Pune, worth INR 776 crore and INR 865 crore, respectively.

Recognising the need for robust infrastructure to support electric vehicles, Gogoro India has ambitious plans to establish INR 12,000 battery switching stations across Maharashtra. This initiative will not only facilitate the adoption of electric vehicles but also contribute to the development of a sustainable and eco-friendly transportation system in the state.

Furthermore, several manufacturing projects have received the green light. Performance Chemiserve Limited and Smartchem Technologies Limited are set to construct factories in Raigad with investments of INR 2,700 crore and INR 2,033 crore, respectively. General Polyfilms Private Limited, Wipro PARI Private Limited, and Ganraj Ispat Private Limited are also investing substantial amounts in manufacturing facilities in Nandurbar, Satara, and Ahmednagar, respectively.

These projects have been approved by the Cabinet Subcommittee on Industries, amounting to a total investment of INR 40,000 crore and creating an estimated 1.2 lakh job opportunities.